The global smart bathroom market size is expected to reach USD 8.20 Billion in 2030 and register a revenue CAGR of 9.7% over the forecast period, according to a latest report by Reports and Data. Rising advancements in sensing technology and increasing demand for smart buildings are expected to drive market revenue growth during the forecast period.
Sensors at present are very powerful and receptive and therefore can capture large volumes of real-time data, which are further processed and analysed using sophisticated machine learning algorithms. Market players had embedded sensors in bathrooms in order to enhance user experience that can detect, report, and analyse activities and contribute to energy conservation.
Rising advancements in smart sensors have led to the rising adoption of smart technological solutions in bathrooms. A wide number of products in the bathroom are embedded with sensors. A smart sensor consists of a combination of sensor, microprocessor, and communication technology that incorporates rule-based elements that provide various functions such as the conversion of data, data processing, and external device communication. Increased usage along with rising demand for enhanced cleaning and disinfecting and higher occupant expectations and standards, has driven the rapid adoption of the Internet of Things (IoT) and connected devices in commercial restrooms which are expected to drive revenue growth of the market.
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Major Companies:
- American Standard Brands (LIXIL),
- CERA Sanitaryware Limited.,
- Moen Incorporated,
- Hansgrohe SE,
- Jacuzzi Inc.,
- The Jaquar Group,
- Kohler Co.,
- Spectrum Brands, Inc.,
- Roca Sanitario,
- A, Toto Ltd,
- MAAX Bath Inc.
Rapid digitalization of supply chain and manufacturing process to drive market growth
Consumer goods and fast-moving consumer goods (FMCG) markets are constantly adapting to changing consumer demand and trends. In recent years, the consumer goods business has been influenced by digital innovation, the coronavirus pandemic, and a greater focus on sustainable and healthy behaviors, to name a few. Digitalization has put the customer in control, allowing them to compare and scrutinize things in real time. In this competitive industry, consumer products companies must maximize their marketing techniques and brand recognition to sustain client loyalty.
The pandemic changed how people purchase and wreaked havoc on the market; cleaning supplies, shelf-stable food and beverages, and toilet paper became scarce in some areas within days. Furthermore, the function of sustainability is becoming increasingly important in the consumer goods sector; there is a growing desire for more ecologically and ethically manufactured products across the board.
Growing demand for co-friendly cosmetics to further bolster market growth
Food, toiletries, cosmetics, and beverages are the four categories that make up the consumer products industry. Most companies in this industry make products that fall into one of the four categories; however, some companies may have bands that span the categories' lines. In the consumer goods industry, success is determined by how well a single product is marketed, typically through boosting the brand name.
In the consumer products industry, companies compete for shelf space, therefore they strive for smart package design, marketing, and customer satisfaction. Addressing changing client wants, navigating a consolidating industry, and implementing profitable growth plans are just a few of the issues faced in the consumer products sector.
Market Segmentation:
By Product Outlook
- Smart Toilet
- Soap Dispenser
- Faucet
- Smart Shower
By Connectivity Outlook
- Bluetooth
- Wi-Fi
- 3G
By Application Outlook
- Residential
- Commercial
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Key Questions Answered by the Report:
- What are the key applications of the Smart Bathroom market? Which application segment is expected to drive market revenue growth over the forecast period?
- Which product type is expected to register significant revenue growth going ahead?
- Which region is expected to account for largest revenue share over the forecast period 2021-2028?
- Which key companies operating in the global market?
- What are the key strategic initiatives undertaken by the companies to gain a robust footing in the market?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?
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